Ieq Capital LLC Makes New $748,000 Investment in LXP Industrial Trust $LXP

Ieq Capital LLC purchased a new stake in LXP Industrial Trust (NYSE:LXP) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 13,881 shares of the real estate investment trust’s stock, valued at approximately $748,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. IFP Advisors Inc raised its holdings in shares of LXP Industrial Trust by 63.8% in the 4th quarter. IFP Advisors Inc now owns 837 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 326 shares during the period. EQ Wealth Advisors LLC bought a new position in LXP Industrial Trust during the fourth quarter worth about $34,000. Cetera Investment Advisers increased its position in LXP Industrial Trust by 5.2% during the first quarter. Cetera Investment Advisers now owns 14,905 shares of the real estate investment trust’s stock worth $689,000 after buying an additional 743 shares during the last quarter. Pictet Asset Management Holding SA increased its position in LXP Industrial Trust by 11.6% during the first quarter. Pictet Asset Management Holding SA now owns 9,698 shares of the real estate investment trust’s stock worth $449,000 after buying an additional 1,009 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. raised its stake in LXP Industrial Trust by 4.7% in the first quarter. Resona Asset Management Co. Ltd. now owns 26,174 shares of the real estate investment trust’s stock valued at $1,213,000 after buying an additional 1,164 shares during the period. Institutional investors own 93.52% of the company’s stock.

LXP Industrial Trust Trading Up 0.2%

LXP stock opened at $61.09 on Friday. LXP Industrial Trust has a 52 week low of $43.97 and a 52 week high of $61.61. The company has a market capitalization of $3.60 billion, a PE ratio of 61.09 and a beta of 1.02. The company’s 50-day simple moving average is $58.42 and its 200 day simple moving average is $52.87. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.10 and a current ratio of 0.10.

LXP Industrial Trust (NYSE:LXP) last issued its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.01. The business had revenue of $88.11 million during the quarter, compared to analysts’ expectations of $85.37 million. LXP Industrial Trust had a net margin of 18.66% and a return on equity of 3.37%. The business’s revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.16 EPS. As a group, sell-side analysts anticipate that LXP Industrial Trust will post 3.34 earnings per share for the current year.

LXP Industrial Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Tuesday, June 30th. LXP Industrial Trust’s payout ratio is presently 280.00%.

Wall Street Analysts Forecast Growth

LXP has been the subject of several research analyst reports. BMO Capital Markets started coverage on LXP Industrial Trust in a research note on Thursday, July 9th. They set an “outperform” rating and a $65.00 target price for the company. Evercore set a $54.00 price target on LXP Industrial Trust in a report on Monday, June 8th. Jefferies Financial Group cut shares of LXP Industrial Trust from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $62.00 to $61.00 in a research report on Thursday, August 6th. Citigroup reissued an “outperform” rating on shares of LXP Industrial Trust in a research report on Thursday, July 16th. Finally, Wall Street Zen cut shares of LXP Industrial Trust from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Two investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, LXP Industrial Trust currently has an average rating of “Hold” and an average price target of $57.40.

LXP Industrial Trust Company Profile

LXP Industrial Trust is a real estate investment trust that specializes in the ownership, acquisition and management of industrial properties across North America. The company’s portfolio consists of warehouses, distribution centers and manufacturing facilities designed to support supply-chain and logistics operations. By focusing on long-term leasing arrangements, LXP Industrial Trust aims to provide stable income streams while delivering value to tenants through modern, well-positioned industrial space.

The firm’s primary business activities include sourcing and under-writing new property investments, overseeing development and redevelopment projects, and implementing asset-management strategies to enhance the performance of its holdings.